Common use of Advisor Independence Clause in Contracts

Advisor Independence. The Advisor shall for all purposes herein be deemed to be an independent contractor with respect to the Trust, the Managing Owner and any other commodity trading advisor (the "Other Advisor"), and shall, unless otherwise expressly authorized, have no authority to act for or to represent the Trust, the Managing Owner or any Other Advisor in any way or otherwise be deemed to be a general agent, joint venturer or owner of the Trust, the Managing Owner or any Other Advisor, or in any way be responsible for the acts or omissions of the Trust, the Managing Owner or any Other Advisor as long as it is acting independently of such person. The parties acknowledge that the Advisor has not been an organizer or promoter of the Trust and has no responsibility and shall not be subject to liability in connection therewith. Nothing herein contained shall be deemed to require the Trust or the Advisor to take any action contrary to the Trust Agreement or the Advisor's organizational documents, respectively, or any applicable statute, regulation or rule of any exchange or self-regulatory organization. The Trust and the Managing Owner acknowledge that the Advisor's Trading Approach is its confidential property. Nothing in this Agreement shall require the Advisor to disclose the confidential or proprietary details of its Trading Approach, except to the extent required by law or regulation. The Trust and the Managing Owner further agree that they will at all times keep secret and confidential and will not disseminate to any third party unless expressly authorized by the Advisor, the Advisor's trading advice to the Trust, except as, and to the extent that, it may be determined by the Managing Owner to be (i) reasonably necessary for the monitoring of the business of the Trust, including the performance of brokerage services by the Trust's commodity broker(s), or (ii) expressly required by law or regulation.

Advisor Independence. The Advisor shall for all purposes herein be deemed to be an independent contractor with respect to the Trust, the Managing Owner and any other commodity trading advisor (the "Other Advisor"), and shall, unless otherwise expressly authorized, have no authority to act for or to represent the Trust, the Managing Owner or any Other Advisor in any way or otherwise be deemed to be a general agent, joint venturer or owner of the Trust, the Managing Owner or any Other Advisor, or in any way be responsible for the acts or omissions of the Trust, the Managing Owner or any Other Advisor as long as it is acting independently of such person. The parties acknowledge that the Advisor has not been an organizer or promoter of the Trust and has no responsibility and shall not be subject to liability in connection therewith. Nothing herein contained shall be deemed to require the Trust or the Advisor to take any action contrary to the Trust Agreement or the Advisor's organizational documents, respectively, or any applicable statute, regulation or rule of any exchange or self-regulatory organization. The Trust and the Managing Owner acknowledge that the Advisor's Trading Approach is its confidential property. Nothing in this Agreement shall require the Advisor to disclose the confidential or proprietary details of its Trading Approach, except to the extent required by law or regulation. The Trust and the Managing Owner further agree that they will at all times keep secret and confidential and will not disseminate to any third party unless expressly authorized by the Advisor, the Advisor's trading advice to the Trust, except as, and to the extent that, it may be determined by the Managing Owner to be (i) reasonably necessary for the monitoring of the business of the Trust, including the performance of brokerage services by the Trust's commodity broker(s), or (ii) expressly required by law or regulation.

Advisor Independence. The Advisor shall for all purposes herein be deemed to be an independent contractor with respect to the Trust, the Managing Owner and any other commodity trading advisor (the "Other Advisor")Advisors, and shall, unless otherwise expressly authorized, have no authority to act for or to represent the Trust, the Managing Owner or any Other Advisor in any way or otherwise be deemed to be a general agent, joint venturer or owner partner of the Trust, the Managing Owner or any Other Advisor, or in any way be responsible for the acts or omissions of the Trust, the Managing Owner or any Other Advisor as long as it is acting independently of such personOther Advisor. The parties acknowledge that the Advisor has not been an organizer or promoter of the Trust and has no responsibility and shall not be subject to liability in connection therewithTrust. Nothing herein contained shall be deemed to require the Trust or the Advisor to take any action contrary to the its Agreement of Limited Trust Agreement or the Advisor's organizational documents, respectivelyCertificate of Limited Trust, or any applicable statute, regulation or rule of any exchange or self-regulatory organization. The Trust and the Managing Owner acknowledge that the Advisor's Trading Approach is its confidential property. Nothing in this Agreement shall require the Advisor to disclose the confidential or proprietary details of its Trading Approach, except to the extent required by law or regulation. The Trust and the Managing Owner further agree that they will at all times keep secret and confidential and will not disseminate to any third party unless expressly authorized by the Advisor, the Advisor's trading advice to the Trust, except as, and to the extent that, it may be determined by the Managing Owner to be (i) reasonably necessary for the monitoring of the business of the Trust, including the performance of brokerage services by the Trust's commodity broker(s), or (ii) expressly required by law or regulation.